How to Manage Subscriptions with Salesforce CPQ

In this demo video, see how Salesforce CPQ makes it easy to create and manage recurring revenue by automating subscription management functions like amendments and renewals. Check out our full playlist of micro demos for Salesforce Admins: http://bit.ly/2rjeti5. Or, to…

How to Manage Subscriptions with Salesforce CPQ

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In this demo video, see how Salesforce CPQ makes it easy to create and manage recurring revenue by automating subscription management functions like amendments and renewals.

Check out our full playlist of micro demos for Salesforce Admins: http://bit.ly/2rjeti5. Or, to learn more about CPQ & Billing, take our Admin trail: https://sfdc.co/cpqadmin.

Video transcript:
Salesforce CBQ makes it easy to create and manage recurring revenue by automating subscription management functions like amendments and renewals. Let’s take a look. After adding subscription products to a quote, CPQ will create a contract with child subscriptions on the account. This contract will in turn create a renewal opportunity that will populate in your forecast for enhanced visibility.

Here are three steps to set up subscription management and renewals automation. First, define your subscription products. To define a subscription, begin by determining a pricing model on the product object. Fixed price versus percent of total. Then determine the subscription type. Is the product capable of renewals? Will it be sold in perpetuity or for a set term? In this case, there is a term in months, which when combined with the price tells our calculator how to determine a prorated price for term-based subscriptions.

Next review the account setup. On the customer account, contract code termination controls the ability to co terminate new subscriptions to existing contracts. Renewal pricing method determines how pricing should be recalculated on renewal opportunities, where same passes the existing pricing directly to the renewal opportunity, list draws from the latest pricing in the price book, and uplift tells the system to apply a prenegotiated uplift percentage to each line item from an expiring contract to a renewal opportunity.

And finally automate the renewal forecast. Typically, renewal forecast is check degenerate a renewal opportunity upon contract creation. And renewal quoted is checked 30, 60 or 90 days prior to contract expiration to solidify products on the contract and create a renewal quote on the existing opportunity in the system.

By allowing you to define your subscription products, set the account fields, and forecast future renewals on current contracts, Salesforce CBQ makes managing subscriptions and renewals easy. To find out more, take our admin trail.

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